Agreement on rookie wage scale and 2011 salary cap reportedly reached

Douglas LeeJul 14, 2011 8:47 PM

Adam Schefter is reporting that the players and owners have agreed upon a new rookie wage scale and are one step closer to reaching a new CBA. According to John Clayton, all first-round picks would receive four-year rookie contracts with fifth-year options which teams would be able to exercise following the players' third and fourth seasons.

Although the two sides were not previously scheduled to meet tomorrow, they are now expected to continue their talks late into the night and reconvene tomorrow. The issues yet to be resolved include workers' comp, settlement of the TV damages suit and the Brady suit, and the extra rights of first refusal owners are seeking to help them retain free agents this year. According to ESPN's report, the owners are (of course) asking that the players recertify their union and omit judicial oversight from future labor disputes.

UPDATE 9:50PM ET - Clayton is now reporting that the two sides have agreed to set the 2011 salary cap at $120 million with a salary floor close to 100 percent of that number, while Sal Paolantonio says an agreement is close at hand

Reactions

120 million and BDawk gets 5% of that. He&#8217ll have to renegotiate or get cut.

Posted by sleepyteak on 2011-07-15 18:32:57

that&#8217s a big, big win for the broncos and the Von Miller pick. I&#8217d say he&#8217s a huge risk at the salary he would&#8217ve commanded previously. Now, he&#8217s a huge steal. That 5th year option is potentially a pretty good deal for the owners, although I can see a star player threatening to hold out if it&#8217s excersised following the 3rd year. Hopefully Miller plays well enough that we&#8217re happy to renegotiate the whole thing by that point anyway.

Posted by Hercules Rockefeller on 2011-07-15 15:35:39

1st round draft picks just became more valuable if what Schefter is reporting is true, now that they won&#8217t be so expensive. Wish we had more picks for next draft&#8230

Posted by JoePlummer on 2011-07-15 07:27:21

Guess the Von Miller pick won&#8217t cost the Broncos an arm and a leg